Wednesday, April 27

The City of Commerce-based discount retailer said it could be as late as June before it releases its fourth-quarter and fiscal-year results as it undertakes a review of its lease accounting practices as are other retailers nationwide.

In L.A.'s real estate world, monster properties on the order of Hollywood Park don't come along every day. The sale and development of the sprawling site is likely to be a lengthy, costly and litigious process.

New construction pushed Ventura County's commercial vacancy rates up slightly during the first quarter, but the region remains largely a landlord's market as developers are building new product only sparingly.

Start-up companies in Southern California raised 40 percent less money in the first quarter than in the year-ago period. On the national front, venture capitalists invested $4.6 billion in the first quarter, a 16 percent decline from nearly $5 billion a

Vacancy rates continued to inch downward throughout the Wilshire Corridor during the first quarter, with higher asking rents in the Miracle Mile/Park Mile section and lower rents in the Wilshire Center submarket closer to downtown.

Banc of America Securities research analysts announced the results of a survey of local commercial brokers that bolstered the view that L.A. landlords stand to gain as the local office market continues to strengthen.

A dip in first-quarter vacancy rates bolsters the theory that's been driving downtown office investment for several months that the influx of residential development will eventually spur occupancy in office, retail and other sectors.

San Diego Mayor Dick Murphy, who barely won a tough re-election battle against a write-in candidate, has resigned amid a widening federal probe of his handling of the city's deficit-ridden pension system.

The drive to satisfy housing demand in L.A. County continued to spill into the office market in the first quarter, as condo conversions and new residential projects gobbled up land and drove prices higher for commercial investors.

The purchase of publicly held Kramont Realty Trust for $1.2 billion was announced in December. It marks an expansion for the partnership of Santa Monica-based Watt Commercial Properties and Australia's Centro Properties Group.

The $5.7 million settlement related to claims it overbilled the Department of Water & Power, the Convention and Visitors Bureau, the Port of L.A. and the operator of LAX ends its troubles with the city.

Inflation at the wholesale level, propelled by a surge in the price of gas, rose 0.7 percent in March, while U.S. housing starts posted their steepest drop in more than 14 years, the government reported Tuesday.

Despite talk in Sacramento of a potential redistricting deal between Gov. Arnold Schwarzenegger and Democratic leaders, L.A. software entrepreneur Bill Mundell continues to push for a ballot measure on the issue.

Karen Bass, the only African-American woman in the Legislature, is opposing Gov. Arnold Schwarzenegger's reform initiatives while introducing bills that would ease the paperwork burden on small businesses.

Mattel Inc. said Friday that its first-quarter earnings dropped nearly 28 percent from a year ago as sales of its Barbie and Hot Wheels brands fell and sales of its Fisher-Price products were essentially flat.

The last major endorsement in the Los Angeles mayoral race has gone against incumbent James Hahn. The announcement came at a biomedical facility in Sylmar Thursday morning, where L.A. County Supervisor Gloria Molina was on hand.

The legal team that won a $300 million settlement for Santa Monica two years ago after its water was polluted by MTBE is taking its case to the public after complaining the city has failed to pay its legal fees.

Microsoft Corp. has agreed to pay Irvine-based PC maker Gateway Inc. $150 million over four years to settle a legal dispute, and the companies will work together to develop and market Gateway products.

As the volume of shipments grows, inventory control problems can become costly. Logistics consultant Rene Jones of AHM Corp. has some advice for small business owners ready to get their stockroom in order.

The City of Commerce retailer reports that its same-store sales fell 2.8 percent but blames outside factors, including a strike in the first quarter of 2004 that artificially inflated sales and created an unfavorable comparison.

Double digit increases in gas prices helped drive the average price for regular unleaded gasoline in L.A. up 14 cents per gallon in the week ended April 8, said the Automobile Club of Southern California.

Trizec Properties sells a Long Beach property to joint venture GRE Shoreline Square for $87.4 million, Tekelec names a new senior vice president and CFO, and other business briefs about L.A. companies.

DaVita could soon land $2.95 billion in financing to buy Gambro AB's U.S. clinics, Tetra Tech gets a $125 million Navy contract, WPT Enterprises names a new CEO, and other business briefs about L.A. companies.

Four major MCI shareholders criticized the company's board Wednesday for favoring a $7.5 billion takeover by Verizon over a high-priced offer from Qwest, raising the likelihood the bidding war will continue.

Oil prices fell Tuesday after the European Union cut its economic growth forecast and and Fed Chairman Alan Greenspan expressed confidence that market forces would eventually bring oil prices under control.

A. Jerrold Perenchio has long refused to accept a salary to run the nation's largest Spanish-language media company. But Univision has paid his investment firm, Chartwell Partners LLC, millions of dollars.

Andrea L. Rich, the director of the Los Angeles County Museum of Art is resigning from her post, a move that comes on the heels of the museum's announcement that it was moving forward with a big expansion after obtaining the needed funding.

More CFOs are getting off the hot seat these days: recent resignations have hit 99 Cents Only Stores and Countrywide Financial, and Nara Bancorp reassigned its finance chief to a non-accounting position.

The Metropolitan News-Enterprise and the Los Angeles Daily Journal are fighting the latest skirmish among smaller newspapers over the right to publish ads for foreclosures, fictitious business names and probate cases.

If you value your privacy, be careful investing in small funds. That's the lesson investors learned when mutual fund companies inadvertently posted customers' account numbers and addresses on the Internet.

Jason Buffington of NSI Software, a company that provides data replication and computer services for business, offers pointers on what all companies big and small should consider to ensure their computers stay up and running

Thousands of service workers employed by the University of California said Monday that April 14 will be the date of a one-day strike unless significant progress is made in negotiations for a new contract.

Gas prices followed rising oil prices, helping drive the average price for regular unleaded gasoline in L.A. up 5.3 cents per gallon in the week ended April 1, said the Automobile Club of Southern California.